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Jun 30, 2021
Madrigal Q2 2021 Earnings Report
Madrigal's financial performance and corporate advancements were reported.
Key Takeaways
Madrigal Pharmaceuticals reported its second quarter 2021 financial results, highlighting the progress made in clinical trials and commercial preparation for resmetirom. The company reached its enrollment goal for the MAESTRO-NASH trial and anticipates top-line results for its studies in the near future. Madrigal ended the quarter with $323.8 million in cash, cash equivalents, and marketable securities.
Reached enrollment goal for MAESTRO-NASH trial to support 52-week liver biopsy accelerated approval portion.
Top-line results expected by Q3 2022 for MAESTRO-NASH and by the end of 2021 for MAESTRO-NAFLD-1.
Presented positive clinical results at EASL, highlighting the therapeutic value of resmetirom.
Expanded leadership team with the appointment of Alex Howarth as CFO and Robert Waltermire as Chief Pharmaceutical Development Officer.
Madrigal
Madrigal
Forward Guidance
Madrigal is focused on advancing the clinical development of resmetirom and preparing for its potential commercial launch. The company expects top-line data from the MAESTRO-NAFLD-1 study by the end of the year and from the MAESTRO-NASH study in the third quarter of 2022.
Positive Outlook
- Advancing Phase 3 clinical trials for resmetirom.
- Preparing for potential U.S. launch of resmetirom.
- Building commercial resources and infrastructure.
- Developing a comprehensive product launch plan.
- Engaging with NASH physician and patient advocacy communities.
Challenges Ahead
- Uncertainties related to clinical development of resmetirom.
- Enrollment uncertainties related to COVID-19 measures.
- Outcomes or trends from competitive studies.
- Risks of achieving potential benefits in studies with more patients.
- Uncertainties inherent in clinical testing.